The loan guarantees were awarded through the Rural Energy for America Program, operated by the U.S. Department of Agriculture's Rural Development office.
Mon, 02/08/2021 - 11:45am
The U.S. Dept. of Agriculture is investing $17.6 million through loan guarantees for solar renewable energy projects in Maine through its Rural Energy for America Program, and a Waldoboro privately-owned venture will receive $4 .76 million of that total.
For these loans, the federal government is working with the lender Crestmark, A Division of Meta Bank.
The projects are:
Pequawket Trail Baldwin Solar, LLC, located in Baldwin, will receive $10.9 million to refinance a short-term loan used to build a 6.835 MWdc ground-mounted solar project located in Baldwin.
In addition to the REAP loan, the project will be financed by a borrower contribution of $187,483 and a tax equity investment of $6,200,000.
By
1/11/2021 Sandy and Greg Brummond know a good deal when they see one. Five years ago they cashed in on incentives offered on solar systems and invested in a $39,000 solar array that sits atop their farm shop near Craig, Nebraska. The payoff was twofold for the Brummonds. Their current system (which can be expanded) generates 43% of the electricity their farm and home uses. Second, their solar array came with financial help. “To offset some of the cost, we got a $9,000 federal grant,” Sandy Brummond explains. “We also qualified for a 30% federal tax credit that offset $12,000 from the purchase and installation cost.”
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